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WEBAuto Finance News is the nation’s leading source for news, insights and analysis on automotive lending and leasing.
Flagship Credit to launch direct-to-consumer lending
WEBAug 11, 2022 · Flagship Credit Acceptance is expanding into direct-to-consumer lending through an equity investment in automotive e-commerce technology provider Blinker. The Chadds Ford, Pa.-based subprime lender will integrate Denver-based Blinker’s loan origination technology powered by artificial intelligence (AI) and machine learning (ML). The tech allows consumers to apply for and complete financing ...
An inside look at Mazda Financial Services | Auto Finance News
WEBJan 17, 2020 · TFS — which boasts a $92 billion portfolio, according to Big Wheels data — had announced in August 2019 that it would serve as Mazda’s private-label finance provider, taking over for Chase Auto, which has served as Mazda’s financial arm under Mazda Capital Services since 2010.. When the nation’s largest auto financier entered third-party financial services via a private-label finance ...
Automotive Credit Corp. Acquires Lender, Expands Credit Facility
WEBOct 17, 2017 · Subprime lender Automotive Credit Corp. (ACC) is focused on “organic growth” after completing its acquisition of Top Finance Company Inc. in late September, John Cavanaugh, chief financial officer of ACC, told Auto Finance News. “We will work on integrating the two companies, and we expect that to go very well,” he said. Southfield, Mich.-based ACC […]
BREAKING: Wells Fargo Dealer Services to Merge 60 Regional …
WEBMay 31, 2017 · Wells Fargo Dealer Services is in the process of consolidating its network of collection centers, a company spokeswoman confirmed to Auto Finance News. “Wells Fargo Dealer Services is reorganizing its collections activities in order to improve the customer experience,” the company said in an emailed statement. “Dealer Services is evolving to meet changing needs of […]
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TD Auto to integrate loan payments on bank app
WEBMar 23, 2023 · TD Auto Finance plans to launch an integrated digital experience in the third quarter that allows customers to manage their auto loan using the bank’s mobile app. “The folks who take out an auto loan through our dealer network, once they’re in our book, [we’re] making sure that they have a fully integrated mobile […]
Staying the course: Dan Berce, Auto Finance Executive of the Year
WEBDec 4, 2023 · Sell cars — of course. These four tenets have served as a beacon for GM Financial President and Chief Executive Dan Berce since General Motors acquired subprime lender AmeriCredit in 2010 following the 2008 credit crisis. The crisis ended with a government bailout of the Detroit-based automaker and divestiture of …
Santander acquires Gateway One $1B portfolio - Auto Finance News
WEBSantander Consumer USA is bolstering its servicing business via a newly inked acquisition of Gateway One Lending & Finance‘s $1.1 billion indirect auto loan portfolio, the companies announced on Wednesday. The acquisition includes an additional $500 million of indirect auto loan assets that SCUSA will service on behalf of TCF National Bank, the parent of […]
SAFCO enters military lending following SNAAC acquisition
WEBSouthern Auto Finance Co. (SAFCO) will start originating loans this quarter for military personnel following the subprime lender’s acquisition of Security National Automotive Acceptance Company’s (SNAAC) front-end origination assets, SAFCO’s Director of Sales and Marketing Zack Sawyer told Auto Finance News. Fort Lauderdale, Fla.-based SAFCO purchased SNAAC’s intellectual property and ...
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